Aussie started this morning at $0.9374 and then found itself holding in a $0.9362 to $0.9378 range in early Asian dealings, just below last night’s $0.9371/84 range during the US hours. The early attention was on speeches by two RBA officials, particularly RBA Governor Glenn Stevens at the Anika Foundation Luncheon. Concerns that Stevens might again attempt to talk down the aussie kept the rate under pressure toward $0.9360 through much of the morning. Offers were also noted at $0.9390 up to yesterday’s $0.9401 Asian high, keeping gains limited initially. But Stevens made no mention of the aussie in his speech, allowing the rate to stage a relief rally up to $0.9397 high before stabilizing. Aussie-dollar was last at $0.9380, with more stops and offers noted around Friday’s $0.9411 high, leading up to further sellers at $0.9420. Stops alsoremain above $0.9415 with a close above needed to confirm a break of the 21-day moving average at $0.9398 and see the focus shift to the $0.9456 July 10 highs. Downside stops are noted below $0.9365 and more importantly below the key $0.9322 support
